For months now, the health sector has led the economy in job creation, producing more than 300,000 more jobs since this time last year. Even as overall job creation sputtered last month, the health sector added 44,000 new positions. But health-care job growth isn’t necessarily a good thing, at least when it comes to controlling…
Tag: economy
Occupy Wall Street vs. The Arab Spring
A short film juxtaposing the two movements, with words from our leaders.
RIP, American Jobs Act
President Obama’s jobs bill, as written, died a predictable death in the Senate last night. Democrats were able to muster fifty-one votes for passage, but that’s well short of the sixty needed to overcome a Republican filibuster. The New York Times called the vote both a “major” and “significant” setback for Obama in this morning’s…
Millionaire tax would pay for Obama jobs bill, CBO says – Oct. 7, 2011
The Democrats’ proposed tax on millionaires would raise an estimated $453 billion, more than enough to pay for President Obama’s jobs bill. That’s the latest from the Congressional Budget Office, which on Friday released its cost and revenue estimates for the American Jobs Act of 2011. The bill calls for $447 billion in new and…
Talking Points 2012 – The Stimulus
“The argument that the stimulus had zero impact and we shouldn’t have done it is intellectually dishonest or wrong,” he says. “If you throw a trillion dollars at the economy, it has an impact. I would have preferred to do it differently, but they needed to do something.” via Could this time have been different?…
Obama Slams GOP Claim America Can’t Compete: “I’m Not Going to Surrender to Other Countries.”
Last week, Rep. Cliff Stearns (R-FL) said “We can’t compete with China to make solar panels and wind turbines.” As Climate Progress noted, this defeatism is un-American in every respect. This morning, President Obama responded bluntly: I heard there was a Republican member of Congress who is engaging in oversight on this. And…
President Obama’s Press Conference – October 6, 2011
This is not a game; this is not the time for the usual political gridlock. The problems Europe is having today could have a very real effect on our economy at a time when it’s already fragile. But this jobs bill can help guard against another downturn if the situation in Europe gets any worse….
The four habits of highly successful social movements
Americans–infatuated with the next new thing, and proud to believe they are outside the constraints and burdens of history–love neophytes, gifted amateurs. We’re action-oriented and suspicious of elitist expertise, and we thrill to the idea that anybody with moxie can jump in and deliver a baby or land a 737. Right now, it…
Study Shows Income Inequality Severely Hampers Economic Growth
Income inequality in the U.S. is higher than at any other time since the Great Depression, and the U.S. is currently more unequal than countries like the Ivory Coast, Ethiopia, and Pakistan. Though Republicans dismiss concerns over the gap as “class warfare,” the ever-increasing level of disparity has tangible consequences, leading to poor…
CEO pay in one graphic
So, did CEOs become five times better between 1980 and 2000? Not really. They just got better at working the system. via CEO pay in one graphic – The Washington Post.
Obama Jobs Bill: President Challenges Republicans On $447 Billion Plan
On the Texas leg of his “pass this bill” tour, Obama chided Eric Cantor, Republican leader in the House of Representatives, for saying he would not allow a vote on the measure. The White House said the plan could save or create about 400,000 education jobs, including 39,500 in Texas. “I’d like Mr….
Business Owners, Investors Say Tax Changes Make ‘Zero Difference’ In Hiring: ‘I’m Not Sure What The Connection Is’
But a surprising group of people find that to be entirely untrue: the “job creators” themselves. As the billionaire behind the Buffett Rule, Warren Buffett, explained, “I have worked with investors for 60 years and I have yet to see anyone — not even when capital gains rates were 39.9 percent in 1976-77…
Majority Leader Cantor Says Obama Jobs Plan Won’t Receive A Vote On The House Floor
Several news outlets are reporting that House Majority Leader Eric Cantor (R-VA) said that the GOP will not bring President Obama’s $447 billion jobs plan to a vote on the House floor. The administration has been asking for a vote on the bill this month. Last week, economists surveyed by Bloomberg News said that the…
Regulations aren’t to blame for the ‘uncovery’
The Republican narrative on the economic recovery — or, as some are calling it, the “uncovery — is simple: It’s not Europe, or deleveraging, or lack of consumer demand. It’s government. Businesses, Speaker John Boehner has said, have been “slammed by uncertainty from the constant threat of new taxes, out-of-control spending and unnecessary regulation.” It…
Russell Simmons: All My Employees Paid Less Taxes Than I Did
Russell Simmons: All My Employees Paid Less Taxes Than I Did
Regulatory uncertainty: A phony explanation for our jobs problem
An examination of current economic trends, and especially what employers are doing in terms of hiring and investment, debunks this story about regulatory uncertainty as the cause of our dismal job growth. An examination of what employers and their economists are saying again and again in private surveys (cited later in this paper) makes it…
Senators pass bill to avert government shutdown
The agreement ensured there would be no interruption in assistance to areas battered by disasters such as Hurricane Irene and last summer’s tornados in Joplin, Mo., and also that the government would be able to run normally when the new budget year begins on Saturday. The Senate approved the resolution after a day…
August Unemployment Rates Fall in All of Michigan’s Regional Labor Markets
From August 2010 to August 2011, unemployment rates fell in all of the state’s 17 regions. Rate drops ranged from a half percentage point to 1.8 percentage points and were significant in a number of regions over the year. The median reduction since August 2010 was 1.2 percentage points. The largest declines over this period were posted in…
Most States Experience Significant Rise In Levels Of ‘Deep Poverty’
The closer one looks at the Census data on American poverty, the more discouraging it becomes. It was already known that the national poverty rate climbed to 15.1 percent last year, the greatest percentage since 1993, and that the actual number of Americans living in poverty had hit 46.2 million, the highest number…
Wonkbook: Can the new Obama get anything done?
The smart money is still on nothing big getting done this year or next. In Washington, the smart money is almost always on nothing big getting done this year or next. But it’s not at all clear that the chances of something big getting done are lower under the White House’s confrontational strategy…